The case presents a successful implementation of product and market diversification. The case draws from the experience of MDF-Kamurj – an Armenian microfinance institution which developed and launched a new credit product directed to rural microentrepreneurs involved in agriculture and livestock breeding. The case seeks to present how the process of market research and pilot testing helps in mitigating risks related to entering new areas with a new product (a product not meeting clients’ needs, inefficient procedures, resistance among staff towards innovation). Simultaneously it discusses the requirements of conducting market research and pilot testing (including financial and non-financial costs as well as the golden rules of the process).

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